Railroads News
- China Railway set to make strong debut
Date: 5-Dec-2007 Sources: (Shenzhen Daily)
CHINA Railway Group shares are expected to rise by at least half on their Shanghai debut today, buoyed by the firm's near monopoly of a fast expanding railway construction sector.
The world's third-largest construction contractor raised 22.44 billion yuan (US$3 billion) in mainland's eighth-biggest initial public offering (IPO) and added US$2.46 billion from a Hong Kong IPO. A shares in China Railway, which builds railways, highways, ports and other big-ticket projects, are likely to close around 7.70 yuan today, up from an IPO price of 4.80 yuan, a survey of five analysts showed.
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